Viet Nam News by Thu Ngân Trần Mỹ Tiên is a hard-working employee of a famous bank in HCM City. Looking at her outstanding performance, no one can believe the 30-year-old has another job on the side: she is the co-owner of a coffee shop called Cái Lò Gạch Cũ in District 11 that opened several months ago. Talking about how she manages to juggle two jobs at the same time, she merely said “technology”. She was referring to the phone applications she uses to monitor everything in the shop like cash flow, revenue growth, supply sources, and others. While many people may not understand industry 4.0 and other technological changes, they are clearly sweeping across the country. On the one hand, there are many conferences on esoteric concepts like big data, cloud, Internet of Things, and artificial intelligence, on the other, these have already entered daily life to benefit users. Tiên is one of those benefiting from the … [Read more...] about How technology is changing lives in VN
How economic growth is calculated
Seminar underlines sustainable private growth
Seminar underlines imperative of sustainable private sector growth. — VNS Photo Hoàng Nam Sustainable development of the private sector is an urgent requirement for Viet Nam in the context of the trade war between the US and China and fourth industrial revolution, a seminar heard in HCM City on Thursday. Deputy Minister of Planning and Investment Nguyen Van Hieu told the 5th Forbes Business Forum on ‘Building Sustainable Growth’: “In recent years the private sector has contributed significantly to the nation’s economic growth. “The Party and State strongly encourage the sector since it is a major driver of economic development by creating an attractive business environment with various incentives.” Nguyen Thi Phuong Thao, CEO of VietjetAir, said: “Viet Nam has many challenges and opportunities in this new era.” She listed trade wars, exchange rate fluctuations, petrol price, exports, FDI, and lagging behind in technology as … [Read more...] about Seminar underlines sustainable private growth
GDP not an ideal indicator for growth, says Nobel laureate
Joint winner of the 2004 Nobel prize in Economics, Prof. Finn Kydland.(Source: VNA) Hanoi (VNA) - Joint winner of the 2004 Nobel prize in Economics, Prof. Finn Kydland, spoke to Viet Nam News about the Vietnamese economy and growth on the sidelines of the 2018 Recontres du Vietnam – a development initiative that has brought world-renowned scientists to Vietnam for discussions since 1993. Q: What are your impressions of Vietnam’s economic growth in recent years? A: About two years ago I read on Viet Nam News (I think) about the willingness of the Vietnamese Government to let foreign companies set up shop in Vietnam, which I think is a good idea in developing economies. In the initial stages, typically an economy doesn’t have all the skills needed for growth to get momentum. It’s a good way to be willing or receptive to let foreigners become entrepreneurs in a country like Vietnam and they can help get growth going and Vietnamese can learn from them. Q: What … [Read more...] about GDP not an ideal indicator for growth, says Nobel laureate
GDP not an ideal indicator for growth
Joint winner of the 2004 Nobel prize in Economics, Prof. Finn Kydland, speaks to Viet Nam News about the Vietnamese economy and growth on the sidelines of the 2018 Recontres du Vietnam – a development initiative that has brought world-renowned scientists to Viet Nam for discussions since 1993. Joint winner of the 2004 Nobel prize in Economics, Prof. Finn Kydland. What are your impressions of Viet Nam’s economic growth in recent years? About two years ago I read on Viet Nam News (I think) about the willingness of the Vietnamese Government to let foreign companies set up shop in Viet Nam, which I think is a good idea in developing economies. In the initial stages, typically an economy doesn’t have all the skills needed for growth to get momentum. It’s a good way to be willing or receptive to let foreigners become entrepreneurs in a country like Viet Nam and they can help get growth going and Vietnamese can learn from them. What is your view on large … [Read more...] about GDP not an ideal indicator for growth
To street vendors in Vietnam’s biggest cities, sidewalk is a lifeline
A new day starts at 2:30 a.m. for Hiep and her four housemates who rent a small apartment tucked away down a Saigon alley. They need to make tofu pudding in time for 6 a.m., when they loads pots full of the hot dessert onto their bicycles and off they go to the inner city to find customers. At the same time, around 1,800 kilometers (1,100 miles) north, Quyen loads duck embryos and chicken eggs onto the back of a motorbike and travels from the outskirts of Hanoi to the Old Quarter in the downtown district of Hoan Kiem. Everyday, tens of thousands of vendors leave their rented apartments in big cities for busy streets to pay off debts and keep their families in the countryside afloat. They are the faces behind telling statistics that have been troubling policymakers for years: migrants and unofficial workers. Official government data from 2015 showed that migrants aged between 15 and 59 made up 17.3 percent of the country’s population of 90 million. The majority of them work in the … [Read more...] about To street vendors in Vietnam’s biggest cities, sidewalk is a lifeline